Source gov.uk
- On 27 August 2020, HM Treasury issued a policy paper to modify Section 41 of the UK VAT Act (1994) regarding the VAT refund scheme, considering it to be “unduly complex, administratively burdensome and a barrier to effective financial planning”.
- HM Treasury concludes that a full refund of the VAT incurred on the goods and services for non-business activities performed by organizations falling within section 41 is the best solution for this issue (full refund model).
- Input to HMRC is due Nov 19, 2020
